（有片）經湋論｜Bondmageddon Meets AI Bubbles: When U.S. Debt Pressure Collides with the Tech Boom

香港文匯報訊 Two subjects that may appear unrelated at first glance—the U.S. bond market and the artificial intelligence boom—are in fact becoming increasingly connected. As government debt and interest rates rise, major technology companies are spending hundreds of billions of dollars on AI chips, data centres, and computing infrastructure. We examine Ray Dalio's recent warnings about financial bubbles, and ask whether this massive capital expenditure can justify its future returns.